Piedmont Office Stock To Go Ex-dividend Tomorrow (PDM)

NEW YORK ( TheStreet) -- The ex-dividend date for Piedmont Office Realty (NYSE: PDM) is tomorrow, May 30, 2012. Owners of shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $16.70 as of 9:30 a.m. ET, the dividend yield is 4.8%.

The average volume for Piedmont Office has been 830,800 shares per day over the past 30 days. Piedmont Office has a market cap of $2.87 billion and is part of the financial sector and real estate industry. Shares are down 2.5% year to date as of the close of trading on Friday.

Piedmont Office Realty Trust, Inc. engages in the acquisition and ownership of commercial real estate properties in the United States. Its property portfolio primarily consists of office and industrial buildings, warehouses, and manufacturing facilities. The company has a P/E ratio of 36.9, above the average real estate industry P/E ratio of 12.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Piedmont Office as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow. You can view the full Piedmont Office Ratings Report.

See our dividend calendar or top-yielding stocks list.

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